US durable goods orders fell by 4.0% in January, below expectations for a fall of 1%. Excluding transport, orders fell by 3.2%. The fall was blamed on expiration of a tax incentive at the end of 2011. US consumer confidence rose from 61.5 to a 12-month high of 70.8.

The Richmond Fed manufacturing index lifted from +12 to a 12-month high of +20 and the S&P/Case Shiller home price series fell 0.5% in December, as expected.

The Aussie dollar remains strong, trading around is strong at US$1.075, whilst the euro strengthened against the greenback and yen on speculation an ECB allotment of three-year loans to banks tomorrow will bolster investor appetite for the region’s assets.

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